Heisman Trophy Odds: Ranking betting favorites after finalists revealed

The four 2025 Heisman Trophy finalists were unveiled last night on ESPN ahead of Monday Night Football. Notre Dame running back Jeremiyah Love, Indiana quarterback Fernando Mendoza, Vanderbilt quarterback Diego Pavia and Ohio State quarterback Julian Sayin all earned invites to New York City this week for Saturday’s Heisman Trophy Ceremony inside the famed Lincoln Center.

Following last night’s announcement, the oddsmakers at BetMGM Sportsbook shook things up and overhauled their betting odds for which of the four finalists will ultimately walk away with the 45-pound bronze trophy Saturday night. And based on BetMGM’s latest odds, it appears to be a two-horse race with one clear frontrunner.

Check out BetMGM’s updated odds to the 2025 Heisman Trophy on Saturday below:

1. Fernando Mendoza, QB, Indiana (-2000)

After falling from first to third following the final weekend of the regular season, Mendoza is back on top as the betting favorite to ultimately win this year’s Heisman Trophy with -2000 odds. That’s a considerable betting advantage over his next closest challenger, Vandy QB Diego Pavia at +1000.

Mendoza, who’s also a frontrunner to be the No. 1 pick in the 2026 NFL Draft, led the FBS with 33 touchdowns on 71.5-percent passing this season en route to finishing a perfect 13-0 regular season with its first Big Ten championship since 1967. That allowed the Hoosiers to lock up the No. 1 overall seed in this year’s College Football Playoff.

2. Diego Pavia, QB, Vanderbilt (+1000)

The Commodores’ sixth-year veteran QB has done everything possible to earn the invite to NYC, including championing for himself at every opportunity and striking the famous Heisman pose after scoring a touchdown in Week 14’s rivalry win over Tennessee.

But make no mistake, it’s well-deserved after leading the SEC with 4,018 yards of total offense and 36 combined touchdowns this season while leading Vanderbilt (10-2) to its first-ever 10-win season. Pavia also led the SEC with 27 passing scores and 3,192 yards on 71.2-percent passing to go along with 826 rushing yards.

3. Jeremiyah Love, RB, Notre Dame (+15,000)

The lone non-quarterback in the finalist mix, Love is arguably considered the best player in college football this season after ranking third nationally with 18 rushing touchdowns and fifth in the FBS with 1,372 rushing yards on 199 carries.

That said, based on BetMGM’s +15,000 odds, the Fighting Irish’s running back is a clear longshot to actually win the award, which could be even more disappointment for a Notre Dame squad that was bounced from the CFP’s 12-team field on Sunday due to a Week 1 loss to Miami.

4. Julian Sayin, QB, Ohio State (+50,000)

The frontrunner for the Heisman following Week 14, Sayin fell to a very distant fourth in BetMGM’s latest odds after a rather disappointing performance in Saturday’s Big Ten Championship game loss to Indiana.

Despite that freefall, the Buckeyes’ redshirt freshman still finished the season as the FBS-leader in completion percentage (78.4) — six points better than Mendoza — and quarterback rating (182.05), along with finishing tied for second nationally with 31 passing touchdowns to six interceptions and 3,329 yards.

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